The 2017-18 campaign was yet another dominant one for Olympiacos Piraeus, which spent the bulk of the season looking like a legitimate title contender before a late-season spate of injuries sent the team home disappointed. The Reds enjoyed fantastic early-season form with a four-game winning streak to start the season and shortly after a five-game winning run, the second of which included victories over Fenerbahce Dogus Istanbul and Real Madrid. After a Round 13 victory over CSKA Moscow, Olympiacos was tied for the best record in the league at 10-3. The beginning of the second half of the regular season saw a dip in form and at one point three defeats from four games, but the Reds roared back with five consecutive wins between Rounds 21 and 25, including over Fenerbahce, Madrid and Panathinaikos Superfoods Athens. Olympiacos struggled after that as it lost four of its last five games of the regular season to place third with a 19-11 record to set up a clash with Zalgiris Kaunas in the playoffs. The Lithuanian champs took the opener after overtime at Peace & Friendship Stadium and even though Olympiacos won Game 2 to even things up, Zalgiris took the next two games at home to win the series. Key players Georgios Printezis, Kostas Papanikolaou and Nikola Milutinov all missed time and were less than 100% in the playoffs due to injuries and that proved to be too much to overcome.

Greek powerhouse Olympiacos Piraeus is one of the most successful clubs of the past decade with six Final Four appearances, five trips to the championship game and a pair of EuroLeague crowns. Olympiacos was founded in the 1930s and lifted its first Greek League title in 1949. The Reds' golden era came in the 1990s, when Coach Ioannis Ioannidis led Olympiacos to four Greek League titles between 1993 and 1996 and to the EuroLeague championship game in both 1994 and 1995, though it lost at the hands of Joventut Badalona and Real Madrid, respectively. When Dusan Ivkovic came to the bench in 1997, Olympiacos promptly became the first Greek winner of a triple-crown – Greek League, Greek Cup and EuroLeague titles – the latter by beating FC Barcelona 73-58 in Rome on the shoulders of David Rivers, Georgios Sigalas, Eddie Johnson, Panagiotis Fasoulas, Franko Nakic and Milan Tomic. Olympiacos made it back to the Final Four in 1999 and lifted the Greek Cup in 2002, before coming one victory shy of a spot at the 2003 Final Four. After a few quiet years, the Reds returned to prominence in the 2005-06 season by returning to the EuroLeague Playoffs and the Greek League finals. Olympiacos finally got back to the EuroLeague Final Four in 2009 in Berlin, however lost in the semifinals – as well as the Greek League and Greek Cup finals – to archrival Panathinaikos. In 2010, Olympiacos reached the EuroLeague championship game in Paris, but Barcelona walked away with the crown. The club added to its trophy case with back-to-back Greek Cups in 2010 and 2011 and, with Coach Ivkovic back at the helm, broke the long spell in 2012 by lifting the EuroLeague and Greek League titles for the first time in 15 years behind superstar guard Vassilis Spanoulis, and with the likes of Georgios Printezis, Kyle Hines and Kostas Papanikolaou battling and bruising. Olympiacos rallied from a 19-point deficit to edge CSKA Moscow, 61-62, on a last-second shot by Printezis in the championship game in Istanbul. One year later, with new head coach Georgios Bartzokas on the sidelines, Spanoulis repeated his heroics and earned EuroLeague MVP and Final Four MVP honors in London, where the Reds sent CSKA and Real Madrid away to defend the EuroLeague title in style. Olympiacos missed out on the trophies in 2013-14, but Coach Ioannis Sfairopoulos oversaw its return to the Greek throne and to the EuroLeague championship game in 2015. Olympiacos cruised to the playoffs, where it ousted Barcelona in an instant-classic series on Printezis’s buzzer-beating triple in Game 4. At the Final Four in Madrid, the Reds won a come-from-behind semifinal thriller against CSKA Moscow before bowing out in the championship game against Madrid. At home, Olympiacos won its second Greek League title in 18 years. Olympiacos missed the EuroLeague playoffs in 2016 after 10 consecutive appearances, but bounced back to defend its Greek League title. 2017 saw the Reds storm to their fifth EuroLeague championship game in eight seasons before losing to Fenerbahce Istanbul, but endured another title-free season in Greece. Last season, Olympiacos was among the top three teams in the standings for nearly the entire season, but injuries weakened the team late and it lost in the playoffs to Zalgiris Kaunas and in the maximum five games to Panathinaikos in the Greek finals. The hopes in Piraeus this season are for a healthy season, which should have the team in the title hunt again.